Something old, lots new: exciting times in the legacy market

08-06-2022

Something old, lots new: exciting times in the legacy market

The legacy market is growing fast, but this could be just the beginning. New territories, new lines, and new solutions are fuelling growth as run-offs leave behind their reputation as a last resort.

The legacy market is booming. In 2021, consultant PwC’s Global Insurance Run-off Survey showed brisk business being done. It is estimated that the global run-off reserve has increased from approximately $791 billion to $864 billion.

As PwC’s global insurance leader Jim Bichard put it at the time: “The legacy market has never been as active as it has been since our last survey, from a deals perspective, but also from a legacy management perspective within groups.”

That momentum carried on into 2022: PwC’s latest figures show the total value of executed deals in the non-life legacy market for the first quarter of the year surged 28 percent on the same period in 2021 to $4.2 billion.


PwC, DARAG, Guy Carpenter, Compre Group, Legacy, Panel, Discussion, Jim Bichard, Tom Booth, Will Bridger, Andrea Piatti, Global, Insurance, Reinsurance

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